Getting an SBA Loan for Children's and Infants' Clothing Stores
With these commercial loans for children's and infants' clothing stores, the SBA guarantees the lender that the loan will be repaid. This children's and infants' clothing stores loan for $65,000 was given to a Minnesota entrepreneur in 2005.
This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Newtek Small Business Finance Inc., out of New York, New York. The loan was granted and they received $65,000 to help grow their Minneapolis, Minnesota business.
SBA Loan Borrower
COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
MINNEAPOLIS, MN 55406
SBA Loan Lender
NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018
This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
448130 - Children's and Infants' Clothing Stores
Loan Approval Date
12/2/2005
Loan Approval Gross Amount
$65,000
Loan Approval from the SBA
Of the total $65,000 loan amount, the SBA guaranteed $55,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Newtek Small Business Finance Inc. so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
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SBA Banks in New York, New York
Browse All Business Loan Sources for New York